Brokerages Set ONEOK, Inc. (NYSE:OKE) Price Target at $92.38

27 Sep 2024, 04:38 by Jessica Moore · The Cerbat Gem

ONEOK, Inc. (NYSE:OKE – Get Free Report) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $92.38.

Several brokerages recently commented on OKE. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Wells Fargo & Company lifted their target price on ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada upped their price target on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th.

Read Our Latest Analysis on ONEOK

ONEOK Trading Down 5.9 %

Shares of ONEOK stock opened at $89.14 on Friday. The firm has a market cap of $52.06 billion, a PE ratio of 21.39, a P/E/G ratio of 4.71 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. ONEOK has a fifty-two week low of $60.58 and a fifty-two week high of $96.05. The business’s fifty day moving average is $87.84 and its two-hundred day moving average is $82.83.

ONEOK (NYSE:OKE – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period last year, the company earned $1.04 EPS. Analysts anticipate that ONEOK will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.44%. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of ONEOK

Several large investors have recently modified their holdings of OKE. Corient Private Wealth LLC grew its stake in ONEOK by 28.8% during the 4th quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock valued at $11,154,000 after purchasing an additional 35,518 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its position in shares of ONEOK by 142.3% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 66,977 shares of the utilities provider’s stock worth $4,703,000 after buying an additional 39,335 shares in the last quarter. Enterprise Financial Services Corp acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $200,000. Allstate Corp bought a new stake in shares of ONEOK in the fourth quarter worth $200,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in ONEOK by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 142,426 shares of the utilities provider’s stock valued at $10,001,000 after acquiring an additional 5,867 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

About ONEOK

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